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Clears Key Resistance

AUDUSD TECHS
  • RES 4: 0.6921 High Feb 20
  • RES 3: 0.6891 61.8% Feb - Jun Downleg
  • RES 2: 0.6865 High Feb 22
  • RES 1: 0.6836 High Jun 13
  • PRICE: 0.6799 @ 08:06 BST Jun 15
  • SUP 1: 0.6727 Low Jun 12
  • SUP 2: 0.6670 20-day EMA
  • SUP 3: 0.6610 Low Jun 6
  • SUP 4: 0.6567/6458 Low May 31 and the bear trigger

The AUDUSD bull cycle from May 31 remains in play and the pair traded to a fresh high Wednesday. Price has now printed a higher low for ten consecutive sessions, a streak not seen since late 2017, where the streak extended to 16 trading days and spanned a ~5% rally. Yesterday’s rally put prices north of 0.6818, the May 10 high and a key resistance. A clear break would open 0.6865 and above. Initial firm support is seen at 0.6670, the 20-day EMA.

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